| Gas | Power |
| Market Close | Market Close |
| Gas prices inched lower yesterday as demand levels fell, supply remained healthy and Brent weakened. The UK gas system was long throughout the session as Norwegian imports increased and LNG send-outs were strong. A further drop in demand was also forecast for today which further weighed on the prompt. | Losses were evident across the near power curve on Thursday as milder temperatures have reduced demand levels in the UK. Wind generation was also stronger and a falling gas market weighed on prompt prices further, with additional bearish pressure coming from weaker Brent. |
| Market Close | Market Close |
| The UK gas system is closer to balance this morning as storage withdrawals have dropped significantly, however, LNG send-outs remain at 45mcm and Langeled flows are at capacity. This comfortable supply outlook has helped to weigh on near-curve contracts this morning as demand has also decreased. Temperatures are expected to remain above average over the weekend and at the start of next week which could result in further price-drops this afternoon. | Increased wind levels are expected over the weekend and the start of next week which has helped Day-Ahead power shed from its price. Meanwhile, Unit 1 at the UK's Longannet coal-fired power plant has returned online after suffering an outage 4 days ago which has also contributed to the healthy generation picture. The rest of the curve has taken direction from weaker demand and lower fuel contracts. |
|
Brent Summary Brent 1st-nearby prices had decreased by the end of a volatile session yesterday as traders remain uncertain in regards to potential OPEC production cuts; Brent currently trades just above $34/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 30.64ppt and £35.20/MWh, respectively. Today's prices can also be found in an easy to read table on our 'current UK energy price' page. |
Click graph to enlarge
|
